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For individuals who experience job loss, enrollment in post-secondary programs may provide an opportunity to improve future employment outcomes. However, decisions to enroll may be hampered by insufficient information about the benefits and costs and the necessary steps and assistance available...
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We derive a sufficient statistics optimal income tax formula in a general model that incorporates unemployment and … resembles a Negative Income Tax than an Earned Income Tax Credit relative to the case where unemployment and wage responses are …
Persistent link: https://www.econbiz.de/10011735961
significant contribution to unemployment dynamics by GTU shocks in the United States. Differently, the contribution of GTU shocks … to unemployment dynamics in Australia is found to be much milder and substantially lower than that of monetary policy …
Persistent link: https://www.econbiz.de/10011735982
The official U.S. unemployment rate is an inadequate measure of actual labor market conditions. This poses a major … challenge for researchers and confuses both the public and policy makers. A new definition of unemployment is proposed. It … unemployed. We find that the actual unemployment rate in May 2020 was 24.4% or 183% of the headline rate of 13.3%. …
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This paper conducts a broad-based comparison of iterated and direct multi-step forecasting approaches applied to both univariate and multivariate models. Theoretical results and Monte Carlo simulations suggest that iterated forecasts dominate direct forecasts when estimation error is a...
Persistent link: https://www.econbiz.de/10003807908
Consumption risk sharing among U.S. federal states increases in booms and decreases in recessions. We find that small firms' access to credit markets plays an important role in explaining this stylized fact: business cycle fluctuations in aggregate risk sharing are more pronounced in states in...
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